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Only 4,700 People Unemployed in Iceland

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Only 4,700 People Unemployed in Iceland

According to the Icelandic Labor Force Survey the number of persons in the labor force in June 2016 was 201,800. Of those in the labor force 197,100 persons were employed and only 4,700 persons were unemployed.

Comparing June 2015 and 2016 we see a decrease in total employment by 1.3 percentage points of the total population. The number of employed increased by 700 persons, but the unemployment rate went down by 0.8 points. The number of unemployed decreased by 1.100 people and the unemployment rate went down by 0.6 points. Unemployment has not been this low in the month of June, since 2008 when it was measured at 2.2%, according to Statistics Iceland.